January 10, 2018

How Prudential handles a 60 percent increase in customer calls on the busiest day of the year

It’s 7:55 a.m. on a Tuesday in January at Prudential Retirement’s call center near Scranton, Pennsylvania, and the 125 or so employees in the office are in anxious anticipation. In five minutes, they and their colleagues in Dubuque, Iowa; El Paso, Texas; and the Philippines will begin the busiest day of the year, answering questions from more than 17,000 clients over the course of a 13-hour day.

December 26, 2017
U.S. News & World Report

How to Save for Retirement in the Gig Economy

The freedom and flexibility that independent contracting affords make it attractive to millennials, but older generations are also taking notice. The typical gig worker, according to a Prudential white paper, is in his late 40s while the average age for the traditional full-time worker is 43. The primary motivator for joining the gig economy is overwhelmingly financial; 44 percent of gig workers included in the report said they pursued gig work to pay the bills. Older workers were more likely to gravitate toward such work for purely financial reasons.

December 21, 2017

Prudential, Legal & General reach sixth longevity reinsurance agreement

Prudential Retirement and Legal & General Group plc concluded their sixth longevity reinsurance agreement since 2014.

December 10, 2017

American workers trust life insurers for financial security, survey says

What keeps American workers awake at night? For one in three, it’s the fear of losing a loved one.

This finding, among several insights from the American Workers Surveycould be why 87 percent of respondents say life insurance is important, and why two in three have coverage.

November 09, 2017

Prudential, PIC Reach $1.2 Billion Longevity Reinsurance Agreement

NEWARK, N.J., Nov. 09, 2017 - Prudential Retirement, a unit of Prudential Financial, Inc. (NYSE:PRU), and Pension Insurance Corporation (PIC), have entered into their fifth longevity reinsurance transaction since 2015. In the agreement, The Prudential Insurance Company of America assumes the longevity risk for $1.2 billion (about £900 million) in pension liabilities, covering approximately 4,000 pensioners across four pension schemes.

October 26, 2017

Aging populations, low birthrates require retirement solutions

Each year, key executives from Prudential Retirement gather with policy makers, business leaders, and researchers from across the globe for the annual International Longevity Risk and Markets Solutions Conference to address aging trends and the global challenge of creating retirement security. Offering insights into how we grapple with this demographic shift were Dylan Tyson, the Chief Executive for Prudential of Taiwan, and Amy Kessler, Prudential’s head of Longevity Risk Transfer.

October 25, 2017

CEO John Strangfeld talks retirement security with Fox Business reporter Maria Bartiromo in Saudi Arabia

Chairman and CEO John Strangfeld joined some of the biggest names in investing at the Future Investment Initiative conference in Saudi Arabia this week. Prior to his panel appearance, Strangfeld was interviewed live by Maria Bartiromo for her “Mornings with Maria” segment on Fox Business. Bartiromo covered a range of topics, from the prospects for tax reform in the United States to the recent debate in Washington, D.C., about potential changes to limits on 401(k) contributions.

October 02, 2017

Prudential Entrusted with Pension Promises to Approximately 45,000 International Paper Retirees

NEWARK, N.J., Oct. 02, 2017 - International Paper (NYSE:IP) will settle approximately $1.3 billion of its pension obligations by purchasing a group annuity contract from The Prudential Insurance Company of America (NYSE: PRU), a leader in retirement benefits. The agreement transfers to Prudential the responsibility for paying pension benefits to roughly 45,000 of International Paper’s retirees and their beneficiaries.

September 22, 2017

For Asia’s rapidly aging populations, innovation and forward-thinking policies drive retirement security

TAIPEI, Taiwan, September 22, 2017 - The quickening pace of aging in Asia – a region with more than half the world’s population over 60 – has urgent implications for the region’s families, retirees, pensions and policy makers.

September 14, 2017

MMC UK Pension Fund, advised by Mercer, selects Prudential and Canada Life Reinsurance to reinsure the longevity risk of £3.4 Billion ($4.3 billion) in pension liabilities

The Trustee of the MMC UK Pension Fund (the “Fund”) has announced the largest longevity risk transfer for a UK pension fund since 2014. The transaction, which reinsures the longevity risk of £3.4 billion ($4.3 billion) in pension liabilities, will provide long-term protection and income to the Fund in the event that the covered participants live longer than expected. It also lowers the risk that Marsh & McLennan Companies will face unexpected pension contributions due to an increase in pensioner life expectancy.